How do i get taxed (1 Viewer)

[drunkontea]

If i have two casual jobs. My first job which i started three months ago pays $16.75 and hour. This new job i get pays me around $11 an hour. I know i should just stick wit one job but neither gives me enough hours.

 

[yenta]

I think you get taxed normally for one job and full tax rate for the second (that's good, it means you get a nice tax return!)...though in your case I dunno which would be classed as the first and second job. I'm guessing the one you started 3 months ago is the first

 

[Lennie]

i was under the impression that with a second job you get taxed 50% full stop.
But then again, i have had two jobs at the same time and managed to get taxed nothing....
call up the ato (if you can be bothered to be on hold for about 5 hours) or check out the website.

 

[Skittled]

Yenta's got it, from memory. I've heard a lot of people our age thinking that second jobs get 50% tax rate, full stop... Just make sure you do your tax return properly and you should only get taxed at the right marginal tax rate... ie 22% or so, total.

 

[iambored]

if you make under $6000 won't you get all of it back from both of the jobs?

 

[tomorrows_angel]

when you filled in the tax file number declaration form you should have filled it in as not being on your tax free threshold, cos technically you're only supposed to have one job on that at any given point of time.
The second job will then get taxed at a much higher rate, while the first stays on the normal rate. At the end of the financial year, you will get all the tax you paid back if you earn under the tax free threshold, which is $6000, and any more above that will get taxed at the normal rate.
Hmmm i basically repeated what others have said... oh well. I know that's definitely how it works!

 

[iambored]

then why do people make such a bit deal about the second job being taxed higher? there is no reason to care, it's all coming back to you

 

[tomorrows_angel]

because you lose it out of your pocket in the meantime, which can mean a lot if you're strapped for cash. Which is probably the reason you have a second job in the first place. And if you earn over the tax free threshold then you'll lose most of it anyway. If not, you get a nice bonus at tax return time.